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Banks shift to “.bank.in” domain to boost cyber security

Newsmantra — Mon, 03 Nov 2025 07:19:34 +0000

The Reserve Bank of India (RBI) has mandated all banks to migrate their official websites to the “.bank.in” domain, effective immediately. This initiative aims to strengthen cybersecurity, protect customers from phishing attacks, and boost trust in digital banking services nationwide. Only RBI-regulated banks will be authorized to register and use this exclusive domain, with major private sector lenders like ICICI, HDFC, Axis, and Kotak Mahindra Bank having already completed the transition, resulting in new URLs ending with “.bank.in.”

This move addresses the rising concerns over online payment fraud and counterfeit banking websites by providing a verified digital identity for Indian banks. Customers will find it easier to distinguish genuine bank portals from fake ones. The Institute for Development and Research in Banking Technology (IDRBT) will serve as the sole registrar for the domain, under the approval of NIXI and the Ministry of Electronics and Information Technology (MeitY).

Here are the new official bank URLs after the RBI mandate:

ICICI Bank: https://www.icici.bank.in/,

HDFC Bank: https://www.hdfc.bank.in/,

Axis Bank: https://www.axis.bank.in/,

Kotak Mahindra Bank: https://www.kotak.bank.in/en/home.html

All existing services remain accessible, and old website links will automatically redirect to these new domain addresses.

Cybersecurity experts have advised users to always check that banking URLs end with “.bank.in” before logging in.

They also recommend avoiding search engine results or forwarded links to access banking portals and bookmarking the new official URLs to avoid phishing risks.

This domain migration is expected to greatly enhance digital banking security and authenticity in India.

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Saudia Recognized Among the World’s Leading Airlines for operational Safety and Quality

Newsmantra — Wed, 08 Oct 2025 10:19:33 +0000

Jeddah: October 07, 2025 : Saudia, the national flag carrier of the Kingdom of Saudi Arabia, has successfully renewed the IATA Operational Safety Audit (IOSA) under the newly introduced Risk-Based IATA Operational Safety Audit (RBI) framework.

This milestone not only secures Saudia’s IOSA registration for the eleventh consecutive time, but also highlights the airline’s exceptional standards in safety and performance.

This year’s audit marked a major achievement for Saudia, being its first under the RBI framework, which represents the next evolution in aviation safety oversight, focusing on airline-specific risk profiles and performance data to deliver a more targeted and predictive assessment.

IOSA is a globally recognized safety evaluation program that assesses an airline’s operational management and control systems. RBI introduces a more predictive and customized approach, leveraging performance data and risk profiles to enhance oversight, and focusing on airline-specific safety priorities.

The audit covered eight core domains: Organization Management, Aviation Security, Flight Operations, Flight Dispatch, In-Flight Services, Maintenance Management, Ground Operations, and Cargo Operations.

Capt. Mohamed Dahduli, Vice President of Safety, Aviation Security & Quality at Saudia, stated: “Safety is at the core of everything we do at Saudia. Renewing our IOSA registration once again reflects the strength of our safety culture and the robustness of our operational systems. It’s a proud moment that highlights the dedication of our teams and our ongoing commitment to meeting and exceeding global aviation standards”.

As Saudia expands its global reach and modernizes its operations, this recognition reinforces the airline’s leadership in aviation safety and readiness to thrive in an increasingly complex and competitive industry.

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RBI Holds Repo Rate Steady; Industry Sees Boost for Housing Market and Consumer Confidence

Newsmantra — Wed, 01 Oct 2025 08:25:37 +0000

The Reserve Bank of India has decided to maintain the repo rate at 5.50%, keeping policy rates unchanged amid ongoing global uncertainties. The move is expected to provide stability to the financial ecosystem and support sectors such as real estate, while allowing homebuyers and investors to plan with greater confidence.

Mr. Pradeep Aggarwal, Founder & Chairman, Signature Global (India) Ltd., said, “We welcome the RBI’s decision to maintain the repo rate at 5.50%, as it brings stability and continuity to India’s financial ecosystem amid global uncertainties. The move is expected to sustain positive momentum across sectors, including real estate, by supporting liquidity, boosting consumer confidence, and encouraging investment activity.”

Mr. Jash Panchamia, Executive Director, Jaypee Infratech Limited, said, “The RBI’s decision to keep the repo rate unchanged reflects a steady and supportive approach to maintaining economic stability, with inflation under control. Following earlier reductions, the current stance provides stability to the housing market, allowing homebuyers and long-term investors to plan confidently.”

“For developers, consistent interest rates allow for careful planning and execution of projects. Coupled with attractive offerings and well-designed homes, demand remains robust across segments,” he added.

Mr. Ashok Kapur, Chairman, Krishna Group and Krisumi Corporation, said, “The RBI’s decision to maintain the repo rate at 5.50% reflects a cautious and prudent approach to balancing the twin objectives of economic growth and inflation management. While a rate cut at this juncture would have provided an additional boost to housing demand and overall market activity, the real estate sector continues to benefit from earlier reductions and existing lending rate adjustments by commercial banks.”

Mr. Vikas Bhasin, Managing Director, Saya Group, said, “The RBI’s decision to maintain status quo on policy rates is a welcome and expected move. This year, we have already witnessed significant support from the government—starting with consecutive policy rate cuts, followed by tax-saving measures in Budget 2025, and most recently, the rationalization of GST. Collectively, these initiatives have strengthened household savings and boosted the confidence of homebuyers.”

Mr. Raoul Kapoor, Co CEO, Andromeda Sales and Distribution, said, “The RBI’s decision to maintain status quo on policy rates comes in line with market expectations. As the RBI Governor highlighted, prevailing uncertainties around global trade tariffs and geo-political issues leave little room for further rate cuts at this stage.”

“To put this into perspective, a 100-bps cut reduces the EMI on a ₹1 lakh loan with a 20-year tenure by approximately ₹65 per lakh—translating into savings of nearly ₹1625 and ₹3250 respectively for loans of ₹25 lakh and ₹50 lakh.

When combined with additional savings from the revised income tax slabs and lower GST on key goods and services, household purchasing power has improved considerably. This creates a strong environment for credit demand to rise. As we move into the festive season, we expect to see a significant boost in borrowing across categories—ranging from consumer loans to housing finance—driven by improved affordability, policy support, and stronger consumer sentiment,” he explained.

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RBI Tightens Digital Payment Security; 2FA Mandatory from April 2026

Newsmantra — Wed, 01 Oct 2025 07:14:06 +0000

Bengaluru, 30th September 2025: The Reserve Bank of India (RBI) has rolled out new rules to strengthen authentication in digital transactions, making two-factor authentication (2FA) compulsory for all domestic payments starting April 1, 2026.

The directions, issued under the Authentication Mechanisms for Digital Payment Transactions, 2025, require every payment to be verified through at least two distinct factors — knowledge (PIN, password), possession (device token), or inherence (biometric). For card-not-present and online transactions, one factor will need to be dynamic and unique to each transaction, a move aimed at curbing fraud.

Unlike earlier blanket rules, the central bank has allowed issuers to adopt a risk-based approach. This means additional checks such as biometrics or contextual verification can be triggered for high-value or high-risk payments, while smaller, low-risk transactions can remain seamless.

The guidelines also bring cross-border, card-not-present transactions under their ambit from October 1, 2026. While SMS OTPs will continue, they cannot be the only layer of authentication. Exemptions have been carved out for small-value contactless payments, recurring transactions, NETC/Fastag, and offline digital modes.

Issuers will be responsible to safeguard customer interests and compensate for losses in cases of non-compliance. The directions also call for alignment with the Digital Personal Data Protection Act, 2023.

Commenting on the move, Martin P. S., Chief Operating Officer, Ujjivan Small Finance Bank Ltd said, “Securing today, empowering tomorrow — The Reserve Bank of India’s 2025 guidelines on authentication for digital payments mark a key step in strengthening trust and safety in India’s payment ecosystem. By mandating robust and dynamic two-factor authentication, while enabling adoption of advanced technologies, these directions will empower customers and reduce operational risk for banks.”

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RBI Announces Continuous Clearing of Cheques Under CTS for Faster Transactions

Newsmantra — Thu, 14 Aug 2025 09:07:39 +0000

Mumbai — The Reserve Bank of India (RBI) has introduced a significant measure to expedite the cheque clearance process through the implementation of Continuous Clearing under the Cheque Truncation System (CTS). This new approach aims to ensure that cheques are cleared within hours of submission, replacing the current timeline of up to two days.

Currently, CTS operates with a batch processing cycle of two working days, which can delay fund settlements and affect customer experience. To enhance efficiency, reduce settlement risks for banking participants, and improve customer services, RBI Governor Shaktikanta Das announced on Thursday (August 8) that the system will transition from batch processing to continuous clearing with ‘on-realisation-settlement.’

This move is part of RBI’s broader efforts to modernize and streamline payment systems, ensuring faster and more reliable banking transactions across the country. The implementation of continuous clearing is expected to significantly benefit customers, businesses, and banking institutions alike.

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RBI Maintains Repo Rate at 5.50%; Real Estate Sector Sees Continued Growth Ahead

Newsmantra — Wed, 06 Aug 2025 12:51:05 +0000

The Reserve Bank of India’s Monetary Policy Committee (MPC) has kept the repo rate unchanged at 5.50% in its August 2025 meeting, aiming to maintain economic stability amid global and domestic uncertainties. The move reflects the RBI’s balanced approach to supporting growth while keeping inflation within its target range.

“After a detailed assessment of the evolving macroeconomic and financial developments and the outlook, the MPC voted unanimously to keep the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 5.50 per cent,” RBI Governor Mr. Sanjay Malhotra said in today’s Monetary Policy Statement.

“The uncertainties of tariffs are still evolving. Monetary policy transmission is continuing. The impact of the 100 bps rate cut since February 2025 on the economy is still unfolding,” Mr. Malhotra added.

The real estate sector has welcomed the RBI’s decision to maintain the status quo on the repo rate, viewing it as a stabilizing move amid ongoing global and domestic uncertainties. Developers and homebuyers alike see this as a positive signal, as stable interest rates help sustain affordability and confidence in the housing market.

Mr. Pradeep Aggarwal, Founder & Chairman, Signature Global (India) Ltd., said, “The RBI’s decision to maintain the repo rate at its current level reflects a steady approach to supporting economic recovery amid stable inflation. With borrowing costs significantly reduced following three consecutive rate cuts, the current policy stance ensures continued affordability, as rates remain at comfortable levels. This is expected to sustain consumer confidence and support ongoing momentum in key sectors, including real estate.

The unchanged policy stance is set to keep the real estate sector’s growth momentum on track. With steady interest rates and strong consumer confidence, developers are expected to meet the sustained demand for quality housing through greater focus on new offerings. This sustained activity will further strengthen the real estate sector’s contribution to GDP growth, job creation, and the expansion of urban infrastructure in the coming quarters.”

Mr. Ashok Kapur, Chairman, Krishna Group and Krisumi Corporation, said, “The RBI’s decision to keep the repo rate unchanged reflects a balanced approach amid ongoing global uncertainties. While a rate cut—as the real estate sector at large was hoping for—would have further accelerated the demand for homes across segments, borrowing costs continue to remain at relatively accommodative levels, supported by the cumulative 100 basis points reduction earlier this year. As a result, the growth of the housing market will likely continue on its upward trajectory.

With the festive season approaching, stable interest rates and the continued transmission of past rate cuts are expected to keep housing demand buoyant—particularly in the mid and premium segments. Backed by a positive buyer outlook and attractive developer offerings, market sentiment remains strong, and we anticipate steady sales momentum in the months ahead.”

Mr. Sushil Bedarwal, CMD, Bedarwal Group, said, “The RBI’s decision to pause the ongoing rate cut cycle is in line with the prevailing economic indicators and the current geopolitical environment. It is also important to note that the market is still in the process of fully absorbing the impact of the last three consecutive rate cuts, which together amounted to a significant 100 basis points reduction. The benefits of these cuts are expected to gradually reflect in improved credit offtake and increased consumer spending, particularly in the retail and housing sectors.

The encouraging news is that India’s economic growth continues to be resilient. If macroeconomic conditions remain stable and supportive, we anticipate the RBI may resume the rate cut cycle with a further reduction of 25–50 basis points during the remainder of this calendar year.”

Mr. Raoul Kapoor, Co-CEO, Andromeda Sales and Distribution Pvt Ltd, said, “As anticipated, the Reserve Bank of India (RBI) has kept the repo rate unchanged, despite favourable factors such as a good monsoon and inflation remaining well below the comfort level. The decision appears to be guided by ongoing geopolitical uncertainties and unresolved global tariff concerns.

However, the cumulative 100 basis points cut over the last three Monetary Policy Committee (MPC) meetings has already reduced borrowing costs significantly. As noted by the RBI Governor, the full impact of these rate cuts is still unfolding, and we expect retail credit demand—particularly for home and personal loans—to gain further momentum in the coming months, driven by the upcoming festive season.

We believe this is not the end of the current rate cut cycle, and we anticipate further easing in the repo rate in subsequent MPC meetings, depending on evolving macroeconomic condition.”

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RBI Cuts Repo Rate to 6%, Real Estate Sector Expects Rise in Housing Demand

Newsmantra — Wed, 09 Apr 2025 11:35:52 +0000

The Reserve Bank of India’s move to reduce the repo rate by 25 basis points to 6% has been received positively by the real estate sector. As home loans are expected to become more affordable, many believe this could encourage more people to consider buying property. Developers also see this as a helpful step, as lower interest rates can ease borrowing costs and support faster project execution. With the RBI changing its policy stance to ‘accommodative’, there is also growing expectation of continued support in the coming months, which could further lift buyer confidence and market activity.

Mr. Pradeep Aggarwal, Founder & Chairman, Signature Global (India) Ltd., said, “The Reserve Bank of India’s decision to reduce the policy rate by 25 basis points to 6 percent comes at a crucial juncture when inflation is beginning to show signs of stability and the broader economic environment appears favorable for nurturing growth through lower interest rates. This proactive move is expected to significantly boost homebuyer sentiment, as reduced interest rates translate into improved affordability, thereby encouraging a larger number of people to consider investing in real estate. On the developer front, the lower cost of borrowing will offer a much-needed cushion, enabling them to fast-track project launches, expand their portfolios, and cater to the anticipated rise in housing demand. Overall, this policy rate cut is a timely and positive step that holds promise for stimulating activity across the entire real estate value chain, benefiting both end-users and industry stakeholders alike.”

Mr. Aman Sarin, Director & Chief Executive Officer, Anant Raj Limited, said, “The RBI’s second consecutive rate cut is a welcome move and is expected to provide a strong boost to real estate demand, especially by making home loans more affordable for buyers.

In its latest review, the Monetary Policy Committee not only reduced the repo rate by 25 basis points but also shifted its stance from ‘neutral’ to ‘accommodative’ — a clear signal that, going forward, the MPC is now considering only two possibilities: status quo or further rate cuts.

This change in stance is extremely encouraging, especially for the housing sector. We anticipate more rate cuts in the coming quarters, and the biggest beneficiaries will be home loan borrowers—particularly those taking large-ticket loans for mid and premium homes. Lower interest rates enhance both affordability and loan eligibility, helping many fence-sitting buyers finally make their purchase decisions.

We also expect renewed interest in the high-end and luxury segments as improved purchasing power, combined with softening rates, makes aspirational living more attainable for a wider audience.”

Mr. Ashok Kapur, Chairman, Krishna Group and Krisumi Corporation, said, “The two consecutive policy rate reductions by the RBI, of 25 basis points each, are expected to significantly benefit home buyers. Many prospective buyers who had been cautiously observing the market are now likely to take a decisive step towards purchasing their dream homes. Simultaneously, the reduction in rates will lower borrowing costs for developers, encouraging them to launch more projects in the coming quarters to meet anticipated demand. This dual impact is expected to stimulate both housing demand and supply, providing a positive momentum to the real estate sector.”

Mr. Udit Jain, Director, ONE Group Developers, said, “The RBI’s decision to cut the repo rate is along expected lines. In its previous MPC review, the Governor had already hinted at the possibility of further rate cuts, and we now have a cumulative 50 basis points cut so far. The encouraging development is the RBI’s decision to shift its policy stance from ‘neutral’ to ‘accommodative’. This signals that, barring any major shocks, the MPC is likely to consider only two options going forward—status quo or further rate cuts.

This move bodes well for the broader real estate sector, especially when supported by improved liquidity and relatively stable property prices. If inflation continues on its current downward trajectory and macroeconomic indicators remain supportive, we may witness further monetary easing in the upcoming policy cycles—potentially driving even more momentum in housing demand.

Lower interest rates on home loans will benefit buyers across segments, from affordable housing to premium and luxury categories, making homeownership more accessible and attractive.”

Mr. Raoul Kapoor, Co-CEO, Andromeda Sales and Distribution Pvt Ltd, said, “The Reserve Bank of India’s decision to cut the repo rate by 25 basis points for the second consecutive time—bringing the total cut to 50 basis points—comes as a welcome move for borrowers and the real estate sector alike. This back-to-back reduction is not only a sign of improving macroeconomic stability but also a strategic push to boost consumption and home ownership.

Lowering the repo rate effectively brings down cost of capital for banks and housing finance companies, translating into cheaper home loans for borrowers. This makes home ownership more affordable, especially for first-time buyers and middle-class households.”

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PTC India Financial Services: MD sent on leave four months ahead of superannuation

Newsmantra — Thu, 22 Jun 2023 06:24:35 +0000

PTC India Financial Services MD & CEO Pawan Singh has been sent on leave four months ahead of his superannuation in October this year. The unceremonious move was taken in the light of persistent allegations of corporate misgovernance. This action has been result of RBI intervention on the matter . Newly appointed Director (Finance) Mahendra Lodha will take over the responsibilities of the MD & CEO till the appointment of a regular MD & CEO.

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Global economic jump and slump, India’s real estate market looks plum

News Mantra — Fri, 16 Jun 2023 08:08:24 +0000

Business magnate Elon Musk and American entrepreneur Robert Kiyosaki, author of Rich Dad Poor Dad — a book that gives insight into different spheres of investment, warned that the real estate market will face a big jolt of impending global meltdown. Their cautioning words can have a ripple effect on the housing sector globally, but the moot point is: Should the Indian real estate market get worried?

Real estate experts are of the firm opinion that the fundamentals of the Indian economy as well as the dynamics of its market will insulate the country’s housing sector from the global economic slowdown. They are of the view that the sentiment of Indian homebuyers has been positive because of a suitable market ecosystem. Also, a pause in RBI’s rising repo rate and dazzling domestic economic outlook will help the housing market sentiment buoyant.

Housing demand

According to a recent report prepared jointly by Credai, Colliers, and Liases Foras, home price in India has increased 8 percent during January – March period of 2023 with Delhi-NCR registering a humongous surge of 16 percent, closely followed by Kolkata and Bengaluru with 15 percent and 14 percent year-on-year increase respectively. The tangible reason behind such a steep surge in home prices is said to be robust housing demand and consistent quality launches by high-end developers.

Real estate boom in small cities

If the cascading effect of the West slipping into recession and subsequently IT/ITeS companies tightening their budgets reach India, the commercial segment could have some bearing. However, the residential real estate ecosystem in India has been robust with astounding sales records in 2022. In the backdrop of Covid catastrophe that brought the world economy to its knees, the year 2022 witnessed a major real estate boom in Tier 2 and Tier 3 cities and continued the growth momentum in hurly-burly of the global slowdown.

Rosy real estate in 2023

The Indian economy is on the cusp of becoming a world leader. Soaring urbanization, larger disposable incomes, and a rise in GDP per capita script a rosy picture for the real estate market in 2023. Despite sluggish trends in the global economy, India’s strong growth potential paves the way for the high demand for offices and commercial space in Tier 1 and Tier 2 cities. Catering to the needs of young growing India, the coworking sector — coworking is a situation that allows several workers from different companies to share an office space– as media report suggests, may cross 50 million sq ft by the end of the year 2023 that would be a year-on-year 15 percent surge.

Strong economic conditions

The real estate market, as experts feel, appears bullish on the future of its economy in 2023. The residential and office market will be spurred by several factors like strong economic conditions, financial stability, GDP growth, healthy supply and demand dynamics, and regulatory framework. The RBI monetary policy, which kept repo rate unchanged, could have far-reaching significance for the home finance and real estate market.

Budgetary boost

For the real estate sector, the Union Budget 2023-24 is conducive in several ways. Finance Minister Nirmala Sitharaman has underlined “Green Growth” as a priority. Several organizations are efficiently working on the concept of sustainable and green living which implies a brighter future of sustainable infrastructure in the face of climate challenges. An increase in the allocation for the Pradhan Mantri Aawas Yojana (PMAY), earmarking around ₹ 79,000 crore for the flagship scheme, will boost the economy related to the housing sector.

In India, real estate has always gravitated investors to grow their wealth. They find alpha opportunities in the investment in the real estate market. Going by careful calibration of market pulse and carrying due diligence, well-informed investors can potentially maximize their returns from the real estate market in the fiscal of 2023-24.

-RAMAKANT CHAUDHARY

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RBI’s new rule for debit card transactions: What is it, how to tokenise your debit card

Newsmantra — Mon, 03 Oct 2022 11:10:01 +0000

The Reserve Bank of India’s (RBI) card-on-file (CoF) tokenization regulations went into effect on Saturday (October 1) with the intention of enhancing the security and safety of card transactions. Now, merchants, payment aggregators, and payment gateways won’t be able to keep critical customer credit and debit card details including the three-digit CVV and expiration date for any purchases made online or through mobile apps. The RBI made the decision not to continue extending these deadlines for implementing these rules.

What is tokenisation?

Tokenization is the process of replacing actual card data with a unique alternate code called the “token.” The token must be different for the card, token requester (the company that accepts client requests for card tokenization and forwards them to the card network to issue a relating token), and device.

How will tokenisation work?

By starting a request on the app that the token requester provides, the owner of a debit or credit card can have their card tokenized. The token requester will send the request to the card network, which will provide a token matching the combination of the card, the token requester, and the device with the approval of the card issuer. The customer won’t pay anything to use the tokenization service.

Before, only interested cardholders’ mobile phones and tablets had access to the facility for card tokenization. The RBI then made the decision to expand the scope of tokenization to encompass consumer devices like as laptops, desktops, wearables (wrist watches, etc.), and Internet of Things (IoT) devices as a result of an increase in tokenization activity.

How to tokenise your debit card?

1. Visit any online store or vendor application to make a purchase and begin the payment process.

2. When checking out, enter your debit or credit card information. Alternately, pick a debit or credit card from the pre-selected list from the bank of your choice, then finish the rest of the form.

3. Select either “Save card as per RBI standards” or “Secure your card.”

4. To confirm the purchase, enter the OTP that your bank gave to your email or mobile device.

5. The store receives the produced token and saves it along with the client identifying information (such as email address or mobile number).

6. When a customer visits the same e-commerce or dealer website, the last four digits of the saved card are shown, making it simpler for them to recognise it throughout the transaction. This demonstrates how a customer’s debit card has been tokenized.

7. A special token is generated for each merchant website that has to hold debit card data.

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